USD/JPY may fall 25 - 55 pips

Pivot

156.55

Our preference

Short positions below 156.55 with targets at 155.90 & 155.60 in extension.

Alternative scenario

Above 156.55 look for further upside with 156.90 & 157.15 as targets.

Comment

The RSI calls for a new downleg.

Supports and resistances

157.15

156.90

156.55

156.15 Last

155.90

155.60

155.25

Number of asterisks represents the strength of support and resistance levels.